Schottky diodes based on semiconducting single-walled carbon nanotubes are being developed as essential components of the next generation of submillimeter-wave sensors and sources. Initial performance predictions have shown that the performance characteristics of these devices can exceed those of the state-of-the-art solid-state Schottky diodes that have been the components of choice for room-temperature submillimeter-wave sensors for more than 50 years. For state-of-the-art Schottky diodes used as detectors at frequencies above a few hundred gigahertz, the inherent parasitic capacitances associated with their semiconductor junction areas and the resistances associated with low electron mobilities limit achievable sensitivity. The performance of such a detector falls off approximately exponentially with frequency above 500 GHz. Moreover, when used as frequency multipliers for generating signals, state-of-the-art solid-state Schottky diodes exhibit extremely low efficiencies, generally putting out only micro-watts of power at frequencies up to 1.5 THz. The shortcomings of the state-of-the-art solid-state Schottky diodes can be overcome by exploiting the unique electronic properties of semiconducting carbon nanotubes. A single-walled carbon nanotube can be metallic or semiconducting, depending on its chirality, and exhibits high electron mobility (recently reported to be approx.= 2x10(exp 5)sq cm/V-s) and low parasitic capacitance. Because of the narrowness of nanotubes, Schottky diodes based on carbon nanotubes have ultra-small junction areas (of the order of a few square nanometers) and consequent junction capacitances of the order of 10(exp -18) F, which translates to cutoff frequency >5 THz. Because the turn-on power levels of these devices are very low (of the order of nano-watts), the input power levels needed for pumping local oscillators containing these devices should be lower than those needed for local oscillators containing state-of-the-art solid-state Schottky diodes.